YEAR EVENTS
1931 - The company was incorporated on 12th December, in Ahmedabad.
The
company manufactures cotton textiles. Products manufactured
are
dhoties, sarees, mulls, dorias, crepes, shirtings, coatings,
printed lawns & voiles cambrics, twills gaberdine etc. count
ranging from 20's to 120s are spun & the cloth width ranges
from
28 to 54.
1962 - The Company entered into an agreement with Tootal Broadhurst
Lee
Co. Ltd., of Manchester for the know-how and treatment of
fabrics
for crease resistance, smooth drying, etc., bearing trade
marks
`Tebilised Double Tested'.
1979 - Ahmedabad Laxmi Cotton Mills, Co., Ltd. was amalgamated with
the
Company in April.
1981 - The Company signed an agreement with Gaskiya Textile Mills
Ltd.,
Nigeria for providing technical and managerial services for a
period of five years. The Nigerian company undertook to set
up a
composite textile mill having 23,976 spindles and 174 Sulzer
looms.
1983 - Generating set of 865 KVA was added and order was placed for
another generating set of 1100 KVA.
- The Company started providing technical and managerial
services
to Gaskiya Textile Mills Ltd., Nigeria from May.
1987 - The Company took up a modernisation programme to triple the
production of denim cloth and to produce double yarn fabrics
for
exports.
- As per the directive of the High Court of Gujarat on 30th
March,
the cumulative preference shares of the Company were
cancelled
and debentures were issued.
- 5,250-15% preference shares of Rs 100 each were converted
into
13% non-convertible redeemable debentures of the face value of
Rs
100 each of the aggregate value of Rs 4.81 lakhs.
- 15,750-4.5% preference shares (including redeemable
preference
shares) were converted into 12.5% non-convertible redeemable
debentures of the face value of Rs 100 each of the aggregate
value of Rs 13.13 lakhs.
1988 - The new product groups identified were the Indigo dyed blue
denim, high quality two-ply fabrics for exports, and special
products such as butta sarees, full voils and dhoties.
- During the year, the Company entered the field of
telecommunication and consumer electronics business.
- An agreement was entered into with NCL for marketing of the
EPABX system to be produced by the Company.
- The Company undertook to further expand the capacity to
produce
denim at the rate of 60,000 metres per day. These new
production
facilities for this product were formed as an export oriented
unit under the name ARVIND EXPORTS.
- The Company proposed to undertake projects: (i) The Video
Magnetic Tape conforming to VHS standards. (ii) Manufacture
of
artificial leather cloth and coated fabric of premium
quality.
(iii) Manufacture of worsted woollen yarn and suitings, the
Company obtained a letter of intent for the manufacture of
this.
(iv) The Company proposed to produce and market, ready made
garments.
- 28,00,000 No. of equity shares issued as rights in June-July,
(prem. Rs 10 per share Prop. 7:10). Only 17,53,800 shares
taken
up. The balance 10,46,200 shares, along with 2,78,300 shares
out
of retainable excess subscription of 2,80,000 shares, were
allotted privately. Another 1,40,000 shares offered to
employees
(prem. Rs 10 per share). Only 55,700 share taken up. The
balance 84,300 shares were allowed to lapse.
1989 - An agreement was signed with Victor Company of Japan Ltd.
(PVC)
to get technical assistance and licence for the production
and
marketing of video cassettes.
- With the issue of convertible debentures in August, the
Company
also issued 5,00,000-14% secured non-convertible debentures
of
the face value of Rs 100 each on rights basis in the
proportion 1
debenture: 14 No. of equity shares. Only 1,40,868 debentures
taken up. The Balance 3,59,132 debentures were allotted
privately (2,60,000 debentures to Vijaya Bank, 73,132
debentures
to UCO Bank 50,000 debentures to ICICI and 3,60,000 debentures
to
LIC.) The debentures shall be redeemed at the end of 7 years
from the date of allotment at a premium of Rs 5 per
debenture.
- During August, the Company issued 14,43,750-12.5% secured
fully
convertible debentures of Rs 120 each of which 5,94,500
debentures were offered on rights basis in the proportion 1
debentures: 12 equity shares and 29,725 debentures to
employees/workers of the Company on an equitable basis.
- Of the balance 8,19,525 debentures, the following debentures
were
reserved for allotment on a preferential basis: (i) 80,000
debentures to LIC, GIC and UTI, (ii) 1,25,000 debentures to
ICICI
(iii) 40,000 debentures to HDFC, (iv) 40,975 debentures to
employees/workers of the Company and (v) 1,00,000 debentures
to
NRIs on repatriation basis. The remaining 4,33,550
debentures
were issued to the public.
- The following debentures were allotted: (i) 6,83,675
debentures
as rights to equity shareholders; (ii) 5,90,160 debentures to
the
public; (iii) 2,45,000 debentures to financial institutions
(1,25,000 debentures to ICICI, 80,000 debentures to LIC, GIC
&
UTI, and 40,000 debentures to HDFC); (iv) 1,07,190 debentures
to
NRIs and (v) 930 debentures to employees of the Company.
- Rs 40 (Part-A) of the face value of each debenture was
automatically and compulsorily converted into 2 equity shares
of
Rs 10 each at a premium of Rs 10 per share at the end of 6
months
from the date of allotment of debentures.
- The remaining Rs 80 (Part-B) of the face value of each
debenture
was also automatically and compulsorily converted into 2
equity
shares of Rs 10 each at a premium of Rs 30 per share at the
end
of the second year from the date of allotment of the
debentures.
1990 - The Electronics Division developed a 8040 EPABX system which
was
undergoing prototype checks.
- After receiving the approvals of the High Court of Gujarat,
the
management of the Nagri Mills Co. Ltd. was taken over by the
Company from October.
- It was proposed to modernise the existing installed capacity
of
36,960 spindle and instal a denim plant to produce denim
cloth
at the rate of 23,000 metres per day.
- The Asoka Mills, Ltd., a member of the Lalbhai Group, became
a
sick unit and a revival scheme was presented to BIFR. As per
the
scheme, the Company consented to act as a new promoter of The
Asoka Mills, Ltd.
1991 - The Company proposed to set up a new composite mill with a
capacity of 25,000 ring spindles, 60 airjet looms and with a
modern process house to produce, both for the domestic and
international markets, classical oxfords, gabardines and
tussores.
- The Company issued 65,44,384-12.5% secured redeemable partly
convertible debentures of Rs 140/- each.
- Out of the issue 62,32,746 debentures were offered on rights
basis to the existing equity shareholders in the ratio of 6
debentures for every 10 equity shares held. Additional
9,34,928
debentures were allotted to retain oversubscription.
- The balance 3,11,638 debentures were offered to
employees/workers
of the Company (all were taken up). During August, 1894 part
A
debenture and 913 part B debentures were forfeited.
- As per the terms of issue, part-A of Rs 105/- of each
debentures
was to be converted into three equity shares of Rs 10 each at
a
premium of Rs 25/- per share at the end of 15 months from the
date of allotment.
- The balance amount, i.e. part-B of Rs 35/- of each
debentures,
was to be redeemed at par at the end of seventh, eighth and
nineth year from the date of allotment in three instalments
of
Rs 12/-, Rs 12/- and Rs 11/- respectively.
1992 - The Company increased the production of denim cloth by 23,000
tonnes per day by modernising the plant located at Khatraj of
Ankur Textiles.
- The International Finance Corporation, Washington (IFC)
approved
the proposal made by the Company for an investment of US $ 18
million comprising of a loan of US million and subscription
to
42,50,000 No. of equity shares of the Company at a price of Rs
55
per share.
- During October, the Company offered 40,32,976 zero interest
secured fully convertible debentures of Rs 800 each to its
shareholders on rights basis in the proportion of 1 debenture:
10
equity shares held/all were taken up).
- Another 2,01,649 debentures were offered to the employees on
an
equitable basis (all were taken up). 11,718 debentures were
forfeited.
- Part A of Rs 260 of each debenture will be converted into 4
equity shares of Rs 10 each at a premium of Rs 55 per share
on
1st April, 1993. Accordingly 168,91,628 No. of equity shares
allotted. Part B of Rs 540 of each debenture will be
converted
into 6 equity shares of Rs 10 each at a premium of Rs 80 per
share on 1st April, 1994.
1993 - The Company proposed to expand the denim manufacturing
capacity
by 85,00,00 metres per annum. The Company also proposed to
set
up a new composite mill for producing annually 120 lakh metres
of
high quality shirting fabrics to be marketed in the domestic
as
well as international markets.
- The Company entered into an agreement with Lanffenmuhle of
Germany, for acquiring technical knowhow to manufacture high
quality denim.
- During September, the Company issued 4,03,298 zero interest
secured fully convertible debentures of Rs 950 each to
corporate
bodies, etc. on private placement basis.
- Part-A of Rs 320 of each debenture will be converted into 4
equity shares of Rs 10 each at a premium of Rs 70 per share
on
1.4.1994. Part-B of Rs 630 of each debenture will be
converted
into 6 equity shares of Rs 10 each at a premium of Rs 95 per
share on 28.2.1995.
- The Company issued 1,27,81,186 No. of equity shares of Rs 10
each
at price per share of US $ 9.78 equivalent to Rs 305.33 in
the
form of GDR in the international market aggregating upto US
5
million.
1994 - The Company's operations were divided into 3 units viz.,
Textile
Division, telecom division and garments division. The
Textile
Division undertook to upgrade its products international
parties.
The telecom division developed an innovative commercial offer
for
marketing its C-DO RAX equipment. The Garment Division
marketed
jeans under the brand name `Flying Machine'. The Garment
division proposed to market its jeans under the brand name
`Newport' in North India.
- The Company, Arvind Products Ltd. and Essar Investments Ltd.
jointly presented to BIFR arrangement for amalgamation of
Ahmedabad Manufacturing Calico Pringing Co. Ltd., (Calico &
Dla
Ltd. a wholly owned subsidiary of Calico Ltd.) with Arvind
Mills
Ltd.
1995 - The performance of textile division was significantly
affected
due to an unprecedented rise in cost of cotton.
- Garment division launched ready to stitch jeans pack under
the
brand `Ruf & Tuf'.
- The company proposed to expand denim fabric capacity from 800
lakh meters to 1200 lakh meters per annum. Also proposed to
establish a project to manufacture 3600 tonnes per annum
knitted
fabrics in technical collaboration with `Alamac' a division
of
West Point Stevens, Inc., U.S.A.
- By the order of BIFR dated 23rd June, the scheme of
amalgamation
of Asoka Mills Ltd. with the Company was sanctioned effective
1st
April 1994.
- As per the scheme of amalgamation, the Company was to issue
3,68,284 No. of equity shares of Rs 10 each to erstwhile
shareholders Asoka Mills Ltd. (AML) in proportion 1:3 for the
shares held in AML.
1996 - The Company prepared a scheme of arrangement with the
creditors
of Nagri Mills Co., Ltd. with a view to revive and
rehabilitate
the unit of that company and to take over its management and
control by investments in its share capital.
- Rohit Mills Ltd. was merged with the Company under a scheme
approved by BIFR. Directors are also considering the proposal
to
merge Arvind Intex Ltd. (AIL) engaged in the cotton spinning
activities with the company.
- Arvind Clothing Ltd., Arvind Fashions Ltd., Asman Investments
Ltd., Arvind Products Ltd., Admirial Investments Ltd.,
Kailash
Industries Ltd., Arvind Worldwide Inc., Arvind Worldwide (M)
Inc., Arvind Overseas (M) Ltd., Big Mill Laufenmuhle GmbH are
subsidiaries of the Company.
- The Company undertook to set up Arvind Cotspin Ltd., an
export
oriented unit for manufacture of high quality cotton yarn, at
Kolhapur, Maharashtra. The plant was to be equipped with the
state-of-the-art machinery manufactured by Rieters of
Switzerland
and Lakshmi-Reiters in India.
- 6,91,510 shares issued to the members of Rohit Mills Ltd., on
its
merger with the Company.
1997 - The marketing and distribution network of Newport brand was
strenthened and the relaunched `Flying Machine/Ruggers' brand
were strengthened.
- The Company reported a fire in the goods godown & folding
packing
department in Naroda road unit of the company.
- 38,50,000 redeemable pref. shares allotted on private
placement
basis to institutional investors.
- Arvind Mills Ltd. has set up the anti-piracy cell for the
first
time in India to curb large scale counterfeiting of their
highly
successful brands Ruf and Tuf and New Port jeans.
- Arvind Mills Ltd, which has a exclusive technical
collaboration
with Virkler of US, is all set to revolutionalise the denim
market, with the introduction of Speed Wash technology. The
company is also in the process of launching Speed Wash denim
in
Mumbai and Delhi.
- Arvind Mills Ltd. has adopted the franchisee system for the
manufacture and distribution of Ruf and Tuf jeans.
- India's largest denim manufacturer, Arvind Mills Ltd, on
21.8.97 ruled out plans to merge with Arvind Polycot, another
unit of the parent Lalbhai Group of companies.
- Arvind Fashions Ltd., a 100 per cent subsidiary of Arvind
Mills, which has set up a state-of-the-art manufacturing
facility in Bangalore to produce Lee jeans, is doubling its
capacity to one million pairs from five lakh pairs annually
beginning mid next year.
- Wrinkle-free or No-Iron Cotton (NIC) shirts in 100 per cent
cotton will be launched by Arvind under the Arrow brand.
- Arvind Mills is setting up a new textile facility for the
manufacture of shirting, knit fabric and cotton bottom-weight
fabric with an investment of 0 million.
- WestPoint Stevens Inc. and Arvind Mills of Ahmedabad, India,
have entered into an agreement where the former will provide
the latter with technical assistance and marketing expertise.
- The garment business division of Arvind Mills launched
`Rugger'
casualwear and `New port' gaberdine jeans.
- The 26 MW captive power project set up by Arvind Mills
Limited
has run into problems with the environmental committee set up
by the Gujarat government.
- The rating assigned to the bonds programme of Gujarat
Industrial
Investment Corporation Ltd. (GIIC) has been downgraded from A
to
BBB- by the Credit Rating Information Services Of India Ltd.
(Crisil).
- Crisil has also downgraded the fixed deposit (FD) programme
of
GKW Ltd. from FB to FC and the non-convertible debenture
(NCD)
and commercial paper programme of Arvind Mills Ltd to BBB+
and
P2 from AA- and P1+, respectively.
- The company has entered into a technical collaboration with
Alamac Knits Inc, a subsidiary of West Point Stevens of USA,
for
the knits unit.
1998 - Arvind Mills, established in 1931 as a textile company, has
emerged as the world's third largest manufacturer of denim.
- Production of denim fabric at one of the units located at
Arvind Mills Naroda Road factory at Ahmedabad, which was
affected by a fire on January 27, has been restored to its
normal capacity.
- Arvind Mills Ltd. will be launching youth and kids range of
garments in Lee and kids range in Ruggers this calendar year.
- Arvind Mills, the leading textile manufacturing company of
the
country and the third largest Denim producer in the world,
went
live with SAP R/3 in April 1998 in their new manufacturing
units
in just 7 months.
- The company has two brands in its wholly owned subsidiaries
Arrow
(premium segment shirt brand) and Lee (premium segment jeans
brand).
1999 - Textiles major Arvind Mills is spinning off its textile
brands
and garments business into a separate company and is looking
for private equity investors to take a significant stake in
the
garment company.
- The US-based Clue Peabody & Company, the owners of Arrow
brand
have extended the Arrow trademark agreement for another five
years with Arvind Clothing Ltd, part of the Arvind Mills Ltd.
(AML).
- The company has been experiencing extremely encouraging
response
for the Arrow and Lee brands, while the threat from the
unorganised sector continues to dog the popular segment
brands
Newport and Ruf & Tuf.
- Arvind Mills has set a two-month deadline for hiving off its
garments division into a separate company and sale of its
real
estate in Delhi.
2000 - Crisil has downgraded the debenture issues of Arvind Mills
Ltd. indicating
that the instruments were in default.
- Arvind Cloth Ltd, a wholly-owned subsidiary of Arvind
Mills Ltd, has launched
special shirts to mark the 150th international
anniversary celebration of the
`Arrow' brand.
2001 - Arvind Mills which defaulted on a 5 million floating rate
note issue, has put forward a debt restructuring
proposal that could significantly reduce its debt burden and
sharply improve its financial health.
- Shareholders of Arvind Mills has approved the firm's
proposal to come out with a rights issue of equity shares
worth Rs 75.41 crore as well as the issue of warrants to lenders.
- Dupont India Ltd has chosen Arvind Mills Ltd (AML) as an
accredited mill for its Lycra Assured
Programme.
- Arvind Mills has posted a net loss of Rs 44.59 crore for
the quarter ended September 30, 2001.
2002
-Arvind Mills Ltd has informed BSE that Mr. Balaji Swaminathan of
ICICI Bank Ltd., and Mr. S. Sridhar of Export-Import Bank of India
(EXIM) has been appointed as a Nominee Directors on company's Board.
-Arvind Mills Ltd has informed BSE that at the board meeting of the
company held on November 20, 2002, the following changes in the
Company's Board of Directors have been considered.
1. The following directors have resigned
Dr Prabodh M Desai
Mr J C Shah
Mr Shailen H Desai
Mr J P Shah
Mr V L Mote
Mr Naishadh I Parikh
2. The following have been appointed as Directors on the Board of
Directors
Mr Jayesh K Shah
Mr Deepak M Satwalekar
Mrs Rama Bijapurkar
Mr Jaitirth Rao
3. Mr Arvind N Lalbhai, Chairman and Managing Director of the company
has resigned from the position of Managing Director but will continue
as Director and Chairman of the Board of Directors of the Company.
4. Mr Jayesh K Shah has been appointed as a Wholetime Director on the
Board of Directors of the company with his designation as Director and
Chief Financial Officer.
2003
-For the fourth quarter, Arvind Mills has witnessed 280% growth in
the net profit to Rs.38crs
as against Rs.10cr for the corresponding period last year.
-Arvind Mills Ltd has been assigned a 'P1+' rating by Crisil, which
indicates a very strong
rating for their commercial paper.
-The Union Government refused to grant tax concession applicable
under Indo-Mauritius
Double Tax Avoidance Agreement to the Arvind Mill's plan to form JV
with Ganesh Ltd.
-ICICI Bank, one the warrant holder of Arvind Mills have executed its
entitlement of its conversion
of its warrants into its equity shares.
-Arvind Mills Ltd informed its members that trading in Secured
Redeemable Non convertible
Triple plus debentures of Rs.1000 each series N3 has been suspended.
-Mr.Ramnik V Bhimani, Company Secretary has been appointed as the
Compliance Officer
of Arvind Mills Ltd.
-ICICI Emerging Sector, the private equity arm of ICICI Bank, has
acquired a 54 per cent stake in the Bangalore-based Arvind Brands,
the apparel arm of the Sanjay Lalbhai-promoted Arvind Mills,
-Arvind Mills Ltd has informed that they have acquired 12,61,233
shares amounting to 1.56% of the total paid up capital of Arvind
Products Limited.
2004
-Delist from Delhi Stock Exchange (DSE) with effect from September 2,
2004
2007
-Arvind Mills Ltd has appointed Mr. G M Yadwadkar, General Manager,
IDBI, Ahmedabad as their Nominee Director on the Board of the Company
in place of Mr. V K Pandit w.e.f. October 25, 2007.
2008
-Arvind Mills Ltd has informed that the name of the Company has been
changed from The
Arvind Mills Ltd to Arvind Ltd and a fresh Certificate of
Incorporation has been issued by The Registrar of Companies, Gujarat,
Ahmedabad.
-Members of are hereby informed that the name of Arvind Mills Ltd
shall be changed to Arvind Limited and the trading symbol of the
Company be changed from ARVINDMILL to ARVIND w.e.f. July 07, 2008.
2010
- Arvind Ltd has appointed Dr. Bakul H. Dholakia as an Additional
Director on the Board of the Company.
2011
-Arvind Mills in tie-up with Birla Cellulose
- Arvind Mill - Tata Housing partners with Arvind Ltd
-Arvind Mill - Tommy Hilfiger Seeks to Accelerate India Expansion
through Acquisition of Direct Interest in India Business
-Arvind Mills inks Joint Venture with PD Fiber Glass
2012
-Arvind Mill - Arvind Acquires Debenhams, Nautica and Next Business
in India.
-Arvind Mill - Arvind to bring iconic Surfwear Brand Billabong to
India
2013
-Arvind Lifestyle Brands Ltd enters into Licensing Agreement with
Reliance Brands & Iconix Brand Group JV for Ed Hardy Brand in
India.
-Arvind Enters Agreement for Licenses of Hanes and Wonderbra
Trademarks in India and acquires Hanes Brands India Operations.
2014
-Arvind announces tie up with The Children's Place, America largest
children's specialty retailer.
-Arvind Ltd Joins Indian Joint Venture with PVH Corp. for Operation
of Calvin Klein Businesses in India.
-Arvind Ltd forays into E-commerce with custom clothing brand
Creyate.
-Arvind ties up with Gap to bring Iconic American Retailer to India.
-Arvind Goodhill Suit Manufacturing launches formal suits.
-Arvind Ltd which is the largest cotton textiles manufacturer and
exporter in India announced that it has opened its flagship The
Arvind Store in Vadodara with an aim to expand its retail network.
2015
-Arvind marks its entry into the beauty and cosmetics segment:
Partnership with world's leading beauty retailer Sephora
-Arvind receives national energy conservation award
2016
-Arvind Limited has launched India's first True Omni Channel
Experience - NNNow.com.
2017
-Arvind signs MoU with KVIC for khadi certification.
-Arvind Ltd signs MoU the Gujarat government to set up a mega apparel
park with an investment of Rs 300-crore in Dahegam in Ahmedabad
district.